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I
In Toronto - 2021
July 19, 2021
Question

Account Receivables for Trust Accounts

  • July 19, 2021
  • 1 reply
  • 0 views

I have QB Pro online and I am using 4 income accounts:

- 2 operating accounts (USD and CAD)

- 2 trust accounts (USD and CAD)

I need to be able to keep operating and trust funds separate, including when issuing an invoice and recording the Account Receivable.

I was having a similar issue with Accounts Payable, and upgraded to QB Pro to be able to remove the centralized A/P account, and are looking to do something similar with the A/R account.

Can I direct entries (invoices) to the particular revenue accounts to particular Trust A/Rs?

Or can I add sub-accounts to the main A/R account and separate out that way?

Thanks

1 reply

T
Tammy_H
July 19, 2021

Hello In Toronto - 2021,

 

Welcome to the QuickBooks Community, where you'll find a lot of great information and allows you to connect with other users. You can create Accounts receivable subaccounts; however, you're unable to direct invoices or sales receipts to a particular A/R account. You can create a journal entry that records the sale and the A/R subaccount. If having the option to map the sales to a specific A/R account is important to you, I can explain how to send the suggestion to our amazing team of product developers.

 

To provide feedback for these easy steps:

  1. Go to the Gear Icon.
  2. Select Feedback.
  3. Input all your ideas, and click Submit feedback.

If you have any other questions, let me know. Take care.

I
In Toronto - 2021Author
July 20, 2021

Thanks Tammy.   If I speak with the proiduct development team, is this something they could customize or is it something they make take into account for future updates?

Also, is this particular A/R behaviour specific to the online software, or does the desktop version also deal with A/Rs in a similar manner?

 

Thanks again.

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